Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Polymarket Perps−0.118%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.281%−$28 · spread now −0.118%, 7d avg −0.044%

Together, before fees−0.241%−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.075% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5194	0.0100	pay 0.0013% / 1h	21m 02s	$46K	$478K	20x
Short	BingX XRP-USDC	1.5176	0.0100	get 0.0100% / 8h	3h 21m	—	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee BingXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → −0.044%: −$7.46
Slippage, 4 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$40.47
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 31 min ago; BingX: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Polymarket Perps live order book, 31 min ago	1.64 bp	6.8 bp −$7	9.2 bp −$92	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	0.99 bp	8.6 bp −$9	12.4 bp −$124	27.3 bp −$2,730	66.0 bp −$33.0K

XRP on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff XRP-PERP	−0.0080%	1h	1.5197	+0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5199	+0.031%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5193	−0.007%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5186	−0.051%	$259K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5192	−0.011%	$14.5M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.409%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5187	−0.048%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5188	−0.039%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5188	−0.039%	$497K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5195	+0.007%	$9K	$350K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5204	+0.063%	$987K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5170	−0.158%	$38.7M	$85.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5202	+0.054%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5171	−0.151%	$535.7M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5174	−0.132%	$345.3M	$945.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5172	−0.145%	$126.7M	$884.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5187	−0.046%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5201	+0.046%	$138K	$720K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.194%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5171	−0.151%	$372.1M	$156.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5167	−0.178%	$295.4M	$906.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5172	−0.146%	$109.3M	$177.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5170	−0.158%	$269.3M	$390.2M	125x	as long as short
BingX XRP-USDCshort	+0.0100%	8h	1.5176	−0.118%	—	$4.2M	—
Variational Omni XRP	+0.0100%	8h	1.5187	−0.047%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5162	−0.210%	$658K	$110.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	−0.187%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5170	−0.158%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5184	−0.069%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5194	long leg	$46K	$478K	20x
Bullet XRP-USD	+0.0100%	1h	1.5187	−0.049%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5188	−0.039%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5189	−0.036%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5192	−0.013%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5189	−0.033%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	−0.051%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5185	−0.059%	$54.0M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	+0.024%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5165	−0.188%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5187	−0.048%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5204	+0.066%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5196	+0.013%	$5.8M	$48.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5192	−0.013%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5181	−0.086%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0258%	1h	1.5183	−0.072%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5150	−0.291%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0277%	8h	1.5195	+0.007%	$1.9M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5201	+0.047%	$518K	$776K	10x	as long as short
Hyperliquid XRP	+0.0411%	1h	1.5187	−0.046%	$298.6M	$250.7M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.026%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0646%	1h	1.5180	−0.095%	$2K	$15K	10x	as long as short